Thanks to all who replied. This has been quite an eye opener - imagine a 120gig drive not being as advertised by the manufacturers. So now after installing my second 120 drive (formatted in NTFS, of course) , there will only be 222 gigs of storage - oh well will have to make do.
@[SiN]
Thank you for your in-depth reports on data storage and NTFS, they were truly informative.